$BTC has seen an extended move during the last week.
Will $BTC see $66,584 next?
A 18.1% drop from $81.2k, assuming it was the local top, would give
$BTC a price target of $66,584 for the subsequent correction.
Interestingly, $66,584 aligns almost perfectly with the neckline breakout of the inverse head-and-shoulders bottom pattern.
The figure of "18.1%" is the historical, average drop size for the *first* major pullback after the 2015, 2018, 2020 and 2020 macro lows.
Thanks to @KrownCryptoCave for this analysis.
Will $BTC see $66,584 next?
A 18.1% drop from $81.2k, assuming it was the local top, would give
$BTC a price target of $66,584 for the subsequent correction.
Interestingly, $66,584 aligns almost perfectly with the neckline breakout of the inverse head-and-shoulders bottom pattern.
The figure of "18.1%" is the historical, average drop size for the *first* major pullback after the 2015, 2018, 2020 and 2020 macro lows.
Thanks to @KrownCryptoCave for this analysis.
